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Thailand to sell 300,000 tonnes of rice to Iran

Staff writer |
Thailand signed agreements to sell 300,000 tonnes of rice to Iran worth 4.3 billion baht (S$171.62 million), the Thai commerce ministry said.

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Commerce Minister Apiradee Tantraporn said four memoranda of understanding (MOUs) were signed in a deal that would see white and jasmine rice exported to Iran. The agreements were signed between three Thai and four Iranian private firms.

A Thai trade delegation led by Deputy Prime Minister Somkid Jatusripitak is in Iran this week to seek trade opportunities after US and EU lifted sanctions against Teheran.

The Thai Rice Exporters' Association said last week that Thailand would negotiate the rice sale during the visit.

Most of the rice is 100 per cent B grade white rice, according to the ministry.

The grain is quoted at US$350 per tonne but could be around US$425 per tonne with sea freight charges included, said Phaiboon Kuonsongtum, a rice trader in the delegation.

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